Paul L. Kessler - 13 Mar 2024 Form 4 Insider Report for Prairie Operating Co. (PROP)

Role: Director, 10%+ Owner
Signature: /s/ Paul L. Kessler
Issuer symbol: PROP
Transactions as of: 13 Mar 2024
Net transactions value: +$854,832
Form type: 4
Filing time: 14 Mar 2024, 20:20:10 UTC
Previous filing: 02 Jan 2024
Next filing: 10 Apr 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PROP	Common Stock	Conversion of derivative security	$854,832	+142,472	+12%	$6.00	1,374,613	13 Mar 2024	By affiliate	F1, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	PROP	Series D Preferred Stock						797,072	13 Mar 2024	Series Preferred Stock	797,072		By affiliates	F2
holding	PROP	Warrant						292,472	13 Mar 2024	Warrant	292,472		By affiliates	F2
holding	PROP	Warrant						150,000	13 Mar 2024	Warrant	150,000		By affiliates	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On 3/13/24, Bristol Investment Fund, Ltd. ("BIF") exercised warrants to purchase a total of 142,472 shares of common stock at an exercise price of $6.00 per share for an aggregate purchase price of $854,832.00.
F2	BIF holds 3,985.36 shares of Series D Preferred Stock (with stated value of $1,000 per share), convertible at $5.00 per share, a Series D "A" warrant for 292,472 shares (expires May 2028) and a Series D "B" warrant for 150,000 shares (expires May 2024).
F3	Mr. Kessler has voting and dispositive control over the following securities: (i) 985,826 shares of common stock held by Bristol Investment Fund, Ltd., a Cayman Islands exempted company ("BIF") (managed by Bristol Capital Advisors, LLC, a Delaware LLC), (ii) 384,160 shares of common stock held by Bristol Capital, LLC, a Delaware LLC ("BC"), (iii) 3,985.36 shares of Series D Preferred Stock held by BIF, (iv) a Series D "A" warrant for 292,472 shares of common stock and a Series D "B" warrant for 150,000 shares of common stock held by BIF, (v) 3,250 shares of common stock held by Mr. Kessler in his personal capacity; and (vi) 1,377 shares of common stock held by Bristol Capital Advisors Profit Sharing Plan.